The Latin American agricultural drone market size is expected to reach USD 0.44 billion in 2024 and reach USD 1.51 billion by 2029, growing at a CAGR of 28.17% from 2024 to 2029.
Agricultural drones use an automated process to make farming more productive, and they are about to be on the brink of becoming the new workhorses on farms. Drones provide better, more flexible visualization. With the focus on productivity in agriculture spiraling upward in the farming sector, drones could be the answer to improved automation and precise control of farm monitoring and operations.
Robots are beginning to transform the way the agriculture sector functions and the advent of agricultural drones could take that change to a whole new level. Farmers are adapting to drone availability, using aerial cameras to visualize plants. Video, specialized video, targeted video, and agricultural spraying systems are offered. Agricultural Drones use Technology for Spraying, Mapping, Pest Control, Seeding, Remote Sensing, and Precision Agriculture.
The market is primarily driven by the increasing adoption of drones for crop spraying applications, resulting in an increase in the yield and reducing the wastage in spraying fertilizers & pesticides. Also, farmers are increasingly implementing this technology in farming to gain better productivity and to increase the efficiency in the usage of water, land, and fertilizers. Moreover, technological advancements, including sensors, better materials, and imaging capabilities, are also expected to drive the agricultural sector. However, lack of awareness and a limited number of skilled professionals are restraining the growth of the market.
The hardware segment consists of fixed wing, rotary blade, and hybrid, whereas the software segment consists of data management, imaging software, and data analysis.
Hardware accounted for the majority of agricultural drone market share in 2016, owing to high-cost components such as fixed wing, rotary blade, and hybrid UAVs. Hybrid UAVs will witness growth in the forecast period since they can perform long-distance tasks along with hovering over agricultural fields. Field mapping applications dominated the Latin American agricultural drone market size. Benefits such as increasing yield by analyzing and monitoring the crops are expected to support the segment growth over the forecast timeline. Crop scouting is expected to witness significant growth owing to its accuracy of fertilizer spraying.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and the remaining countries of South America. The huge rise in spending in the agriculture division has increased the demand for Agriculture drones. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia, which are also intensifying their investments in the Agriculture drones market.
Some of the major key players in the market are Trimble Navigation Ltd., DJI Technology, 3D Robotics, PrecisionHawk, AeroVironment, Inc., Parrot SA, and DroneDeploy.
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